Low Doc Loans

Low Doc Loans

If you are self-employed and have complex business structures or your Tax Returns are not up to date, then a Low Doc Loan may be the right solution for you.

Low Doc Home, Commercial, Car and Business Loans are available to self-employed applicants who can substantiate their income by providing alternative paperwork. Tax Returns are not required and the interest rates and fees are often the same as a normal loan.

So, if you are self-employed with a provable income stream, then call us to discuss your options - with over 15 years' experience in the Low Doc Loan Marketplace, we have the knowledge and experience to help you find the right solution for your needs.

Bad Credit

Cash Out

No Tax Returns

FAST Service

Low Doc Loans are available to self-employed applicants who don't have all the income proof. Having 15 years experience, Lowdocloans.com.au is the best place to get a low documentation loan with alternative paperwork.

Low Doc Loans for the Self-Employed

We understand the demands on small and medium business ... trying to keep your cash flow on track while wrestling with the ever increasing burden of statutory accounting and tax obligations is never easy.

And it is even more difficult when it comes to buying property, updating business vehicles or sourcing funds for cashflow purposes. Traditional lenders can often make you jump through hoops to secure a loan unless you have the ?right kind? of paperwork (and lots of it). It is also often a long drawn out process, particularly if multiple business entities are involved.

But there are alternatives. With a Low Doc Loan you can secure a great loan without Tax Returns and the rates and fees are often the same as a normal loan.

Are Low Doc Loans Fast?

Often we can settle a Car or Business Loan within 48 hours. Property loans can settle in as little as 21 days, depending on the type and location of the property and how quickly you can provide us with the paperwork that we request from you.

The even better news is that we won't waste your valuable time. In fact, we'll tell you at the end of a 10 minute phone conversation whether we able help you or not!

If you like what you hear and decide to proceed, we'll guide you through the entire process and lodge all of the paperwork with the lender on your behalf. You'll find us straight to the point and easy to deal with ? No Sales Talk, guaranteed.

Are Low Doc Loans for everyone?

Low Doc Loans are specifically designed for self-employed applicants who are unable to provide up to date Tax Returns. If you are a sole applicant and are employed on a PAYG basis, are on government benefits or have no provable income stream, then a Low Doc Loan is not for you. Note that PAYG Applicants can still be co-borrowers, but payslips will need to be provided.

We can also help self-employed applicants with bad credit or the recently self-employed (generally an active ABN for at least 24 months will provide you with the greatest number of options, but you may still be able to get a loan if your ABN is at least 6 months old. If your ABN is not GST registered then your borrowing power may also be limited).

How Does a Low Doc Loan Work?

Low Doc Home Loans are designed for self-employed applicants who are unable to supply Tax Returns for the last 2 years to prove their income. Instead, borrowers can substantiate their income using a number of alternative methods which may include ?

Most recent Personal and Business Tax Return with evidence of lodgement (ie: 1 years Tax Returns, not 2).

6 - 12 months BAS Statements with evidence of lodgement.

An Accountant's Letter.

3 - 6 months Business Bank Statements.

ATO assessment notices (conditions apply).

P&L report from software packages like Quicken or MYOB (Lite Doc).

Depending on the Lender and your scenario, more than one of the above documents may be required for you to secure the best possible Deal.

You will require a minimum 20% deposit (for a Purchase) or at least 20% equity in any property/s you are looking to refinance to qualify for a Low Doc Home Loan. Asides from documents to substantiate your income, the requirements are the same as a Standard Home Loan (including traditional income proof for PAYG co-borrowers).

The interest rates, fees and charges for a Low Doc Loan are comparable to a Standard or Full Doc Home Loan however, you may pay mortgage insurance or a lender risk fee in some circumstances.

Can I apply myself?

You can, but a Low Doc Loan is a specialist product that requires a specialist's knowledge to ensure that the Loan is placed with the right Lender "first time". Some reasons for this include:

Your income proof may be better suited to one Low Doc Loan Lender over another.

Unsuccessful applications are very likely to negatively impact on your ability to re-apply with another Lender.

The amount you want to borrow (as a percentage of the property value) may be better suited to one Lender over another Lender.

Mortgage Insurance Policy may exclude you from applying with some Lenders.

You may not service with one Low Doc Loan Lender but will with another.

Your Credit activity may be best suited to a Low Doc Loan Lender that doesn?t ?credit score?.

The property you want to offer as Security may not be acceptable to one Low Doc Loan Lender but will be with another.

Some Low Doc Loan Lenders may have a more favourable assessment Policy than others.

There are many factors that will determine the right Low Doc Lender for you. We aim to maximise your chances of success by lodging your application with the right Lender "first time".

You will not be out of pocket by applying through us. We do not charge brokerage fees. We are paid a commission by the Lender once your loan settles. The interest rate, fees and charges are the same, regardless of whether you apply directly through the Lender or utilise our services instead.

Low Doc Lender Review

We detail the Principle And Interest, Variable Rate Loan products available from Pepper Homeloans. Please contact us for further details including the level of documentation required for each product. A different Low Doc Lender's fixed then variable products are reviewed and posted daily.

* The Comparison Rate is based on a $300,000.00 loan over 30 years. This Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Costs such as Lender Mortgage Insurance, redraw fees or early repayment fees and costs savings such as fee waivers are not included in the Comparison Rate but may influence the cost of the loan.

Hi and Welcome. So, you're looking for a Low Doc Loan? You've come to the right place! We have a large selection of lenders that are still offering Low Doc Loans at very competitive rates. Our panel of lenders include banks, non-banks and non-conforming lenders. So we have solutions to suit many different situations....

What are the Benefits in Applying with Us?

We offer the same rates and fees as if you had gone direct.

We have over 10 years experience in Low Doc Loans.

We have an in depth knowledge of Low Doc Loan Policies.

We have access to over 15 Low Doc Home Loan Lenders.

We provide a helpful, friendly Service.

We do not charge Brokerage Fees.

We are fully Licenced and Accredited.

We provide full disclosure of loan details/fees.

We focus on competitive interest rates.

What is the Process to Apply for a Low Doc Loan?

Make contact via the Make Enquiry form below or call us.

We conduct our preliminary interview with you over the telephone.

We will send you a detailed email summarising our discussion and requesting appropriate paperwork (same day).

You send back the information we have asked for.

We prepare a Formal Application and email it to you for signature (generally "same day" - "next business day" at worst).

You sign Application and fax back.

We lodge Application with Lender and advise initial status (many Lenders will "electronically" approve the loan).

Depending on the Lender, the loan may go into the queue to be assessed by a human to be conditionally approved.

Lender will then order Valuation/s (if applicable) - this is USUALLY the only condition ("same day").

Lender will issue Unconditional Approval after Valuation is back and it has been assessed by Credit.

If there is anything unusual (eg: Credit issues, Valuation issues), then we will call you immediately to discuss.

What should I ask my Low Doc Mortgage Broker?

Questions your mortgage broker should be able to answer...

Do they specialise in Low Doc Loans? (We specialise in Low Doc Loans, most Brokers do not)